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Monitor for 'Trading Made Simple' system 565 replies

Trading Made Simple the right way, and other trading lessons 334 replies

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MTF Indicators for the 'Trading Made Simple' system 241 replies

Trading Made Simple system follower - Thanks to eelfranz 9 replies

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Trading Made Simple

  • #115,101
  • Jan 14, 2021 6:19pm Jan 14, 2021 6:19pm
AUDUSD Jan 15 Tokyo 9am

this pair is the easiest decision to make among the three amigos


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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #115,102
  • Jan 14, 2021 6:24pm Jan 14, 2021 6:24pm
Quoting emmanuel7788
EURNZD Jan 12 H4 Tokyo 11am - Weekly sell - this is the type of market condition and trade to run Blessing3 EA {image} - follow Blessing3 EA { link here }

EURNZD Jan 15 update:

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #115,103
  • Jan 14, 2021 6:27pm Jan 14, 2021 6:27pm
Quoting emmanuel7788
{quote} GBPCAD Jan 12 Tokyo 11am - open sell basket - cut-loss previous 2 weeks high. {image}
GBPAUD Jan 15 update:

- sell only FMC=1

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #115,104
  • Jan 14, 2021 6:55pm Jan 14, 2021 6:55pm
Quoting eelfranz
Don't get fired ! Just make the necessary transition to trading 4hr charts during the London session... or Daily charts.
when you want to follow the OP' post above, you have many options.

one of the option is DIVERSIFICATION.

- allocate a portion of your trading business capital to trade a system strategy using multi-currency pairs

- free up more of your time and semi-automate your trading

- you only need to spend time on your weekends and do you weekly top down analysis WTDA and prepare a trade plan.

- you only need to monitor your trades once-a-day and anytime convenient according to your lifestyle.

Using Blessing 3 EA is one of several options. { here }
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #115,105
  • Jan 14, 2021 7:16pm Jan 14, 2021 7:16pm
Quoting hasib
Can anyone suggest to me, any good exit method or indicator. Thanks in advance.
Big E has different exit methods.

1) close all 4hr trades at 6am

2) if he enters a trade at 10pm, he has two exit methods

a) if price move +50 pips and pull back 10-15 pips, he exit his trade.

b) if RSI price line goes flat*, hooks back, etc. he exit his trade.

*Note, he use the TDI#25 which updates at the close of the bar, this mean he close at the next bar, i.e. the 2am candle.

Did he have other exit method?

Yes. a few other discretionary exits.

Exit Strategies:

- who else interested to discuss this topic?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #115,106
  • Edited 8:02pm Jan 14, 2021 7:44pm | Edited 8:02pm
Quoting emmanuel7788
{quote} Big E has different exit methods. 1) close all 4hr trades at 6am 2) if he enters a trade at 10pm, he has two exit methods a) if price move +50 pips and pull back 10-15 pips, he exit his trade. b) if RSI price line goes flat*, hooks back, etc. he exit his trade. *Note, he use the TDI#25 which updates at the close of the bar, this mean he close at the next bar, i.e. the 2am candle. Did he have other exit method? Yes. a few other discretionary exits. Exit Strategies: - who else interested to discuss this topic?
@emmanuel7788 -- the more you're willing to share about Exit strategies, the more I'd like to learn.

Often times I'll trade strategies from signal-to-signal -- i.e. the same signal is used for both Entries and Exits. Other times I'll use a relative Exit -- e.g. 20% - 50% ADR. Other times I'll use an algorithmic Exit that is different than the Entry. For me the type of Exit is usually dictated by either the strategy or whether I'm going for profit or minimizing DD. In the case of prop firms it really is all about minimizing DD, so trading from signal-to-signal generally won't cut it.

One other issue I'm cognizant of is TP and SL -- but not necessarily for obvious reasons. When you open a trade that includes a TP and / or SL those are registered with the broker. So -- after you press the BUY / SELL button you can close your laptop and power it off -- i.e. "set and go". Turns out for many people it is an issue to have their laptop running 24/5 and dedicated to running MT4. For example, that machine may be shared with other members of the family. Also, I live in an area where winter weather can be extreme and we often lose power or Internet connectivity -- so I trade from a VPS. But not everyone has that luxury. My point is that one's choice to use TP / SL may also be influenced by the conditions under which they trade and not necessarily their trading strategy.
  • #115,107
  • Jan 14, 2021 8:10pm Jan 14, 2021 8:10pm
Quoting robots4me
{quote} @emmanuel7788 -- So -- after you press the BUY / SELL button you can close your laptop and power it off -- i.e. "set and go". Turns out for many people it is an issue to have their laptop running 24/5 and dedicated to running MT4. For example, that machine may be shared with other members of the family. Also, I live in an area where winter weather can be extreme and we often lose power or Internet connectivity -- so I trade from a VPS. But not everyone has that luxury. My point is that one's choice to use TP / SL may also be influenced by...
I have my account connected to the mobile Metatrader as well, that is also great for emergency situations. Because basicly my phone won't shut down unless it is out of battery, and the internet connection will stay as well since it is not wifi.
That's a really good backup,especially if you are using a high end phone with good battery manners.
  • #115,108
  • Jan 14, 2021 8:22pm Jan 14, 2021 8:22pm
Quoting PixelSniper
{quote} I have my account connected to the mobile Metatrader as well, that is also great for emergency situations. Because basicly my phone won't shut down unless it is out of battery, and the internet connection will stay as well since it is not wifi. That's a really good backup,especially if you are using a high end phone with good battery manners.
Good point -- and I'm a neanderthal when it comes to mobile trading. The last time I checked it didn't support custom indicators. What's the current state? Someone recently reported a way to cobble together TDI. What about Stochasitcs? Heiken Ashi? Your favorite Bolligner Bands?
  • #115,109
  • Jan 14, 2021 8:26pm Jan 14, 2021 8:26pm
Quoting PixelSniper
{quote} I have my account connected to the mobile Metatrader as well, that is also great for emergency situations. Because basicly my phone won't shut down unless it is out of battery, and the internet connection will stay as well since it is not wifi. That's a really good backup,especially if you are using a high end phone with good battery manners.
Yes! I also recommend to have the phones with MT4. I have day time job and sometimes needs to go to places. My routine is to use computer to write scripts for TradingView and MT4 EAs and set them up. Then during the day I use phones. TradingView is more flexible to apply custom indicators and alerts, then manual market analysis and manage trades with MT4. Very convenient IMO.
  • #115,110
  • Jan 14, 2021 8:33pm Jan 14, 2021 8:33pm
Quoting robots4me
{quote} Good point -- and I'm a neanderthal when it comes to mobile trading. The last time I checked it didn't support custom indicators. What's the current state? Someone recently reported a way to cobble together TDI. What about Stochasitcs? Heiken Ashi? Your favorite Bolligner Bands?
I have the MT4 version,custom indicators are not available, and yes we have the bollinger bands on this version,practically that is all I need anyway.
Heiken Ashi and TDI no,stochastics is there, and you can construct the TDI with combining couple of indicators together..
Yeah it is not really comfortable trading on the phone,but you never know when you need it so..
  • #115,111
  • Jan 14, 2021 8:33pm Jan 14, 2021 8:33pm
Quoting robots4me
{quote} Good point -- and I'm a neanderthal when it comes to mobile trading. The last time I checked it didn't support custom indicators. What's the current state? Someone recently reported a way to cobble together TDI. What about Stochasitcs? Heiken Ashi? Your favorite Bolligner Bands?
MT4 mobile is not so good at custom charts and indis.
For signal-entry strategies, I write scripts for both TradingView and MT4. Tradingview gives me alert and shows me charts, while MT4 executes automatically.
For anticipation-entry or discretionary strategies, I got alert and check chart on TradingView and switch to Mt4. You can expect a ~10 second delay from knowing you should enter trade to actually enter a trade because of switching apps and refreshing, depending on the network speed
  • #115,112
  • Jan 14, 2021 8:42pm Jan 14, 2021 8:42pm
Quoting tommydoginti
{quote} MT4 mobile is not so good at custom charts and indis. For signal-entry strategies, I write scripts for both TradingView and MT4. Tradingview gives me alert and shows me charts, while MT4 executes automatically. For anticipation-entry or discretionary strategies, I got alert and check chart on TradingView and switch to Mt4. You can expect a ~10 second delay from knowing you should enter trade to actually enter a trade because of switching apps and refreshing, depending on the network speed
Quoting PixelSniper
{quote} I have the MT4 version,custom indicators are not available, and yes we have the bollinger bands on this version,practically that is all I need anyway. Heiken Ashi and TDI no,stochastics is there, and you can construct the TDI with combining couple of indicators together.. Yeah it is not really comfortable trading on the phone,but you never know when you need it so..
Have either of you tried using RDP or TeamViewer from your mobile device to connect to a VPS running MT4? But I wonder whether the screen real estate is too limiting to make that a realistic option. I'm too lazy to test it myself, so decided to ask...
  • #115,113
  • Jan 14, 2021 8:45pm Jan 14, 2021 8:45pm
Quoting robots4me
{quote} {quote} Have either of you tried using RDP or TeamViewer from your mobile device to connect to a VPS running MT4? But I wonder whether the screen real estate is too limiting to make that a realistic option. I'm too lazy to test it myself, so decided to ask...
no, i just keep it simple. TradingView mobile is good enough for me.
  • #115,114
  • Jan 14, 2021 8:51pm Jan 14, 2021 8:51pm
Quoting robots4me
{quote} {quote} Have either of you tried using RDP or TeamViewer from your mobile device to connect to a VPS running MT4? But I wonder whether the screen real estate is too limiting to make that a realistic option. I'm too lazy to test it myself, so decided to ask...
No,not really.. the only time I wanna be focusing on my trading is when I'm on my laptop anyways.Since I want to scalp,it is the most comfortable.
  • #115,115
  • Jan 15, 2021 12:03am Jan 15, 2021 12:03am
USDCHF Jan 15 H4 10pm PDT 1am EST

- learn the 'bounce'

Quoting plamendp
{quote} When the green line bounces off the red line in a good slope (yes, 12-2/4-6) to the same direction as the last cross (though the opposite is impossible) you are having a setup. Now check again all Basic Forex stuff, avoid 32/68 levels and so on. This time you don't care about the Synergy candle - is it first, second or Nth. See the attached picture I made for another post somewhere. Here you have a "good" long setup. Add Basic Forex, Synergy candle *size*, etc. Now, don't be lazy and read the thread :-) Plamen {image}
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Quoting eelfranz
When you see a TDI cross that doesn't look good... start checking other timeframes for the trade... look at other templates at different timeframes... do a thorough investigation before entering any trade. If you do this faithfully your win rate will increase dramatically... If its not quite ready put it on a watch list and go back and check it every 5,15 or 30 minutes...


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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #115,116
  • Jan 15, 2021 3:35am Jan 15, 2021 3:35am
Hello guys,
would you recomend me any good Trading Journal? I mean something like TraderSync or Edgewonk.
Dou you have any personal experience?
  • #115,117
  • Jan 15, 2021 4:44am Jan 15, 2021 4:44am
PLEASE if someone can explain why in TMS we take typical instead of close or Exponential moving average.

is exponential is good or linear weighted for higher time frames like D and 4h tf?
  • #115,118
  • Jan 15, 2021 4:50am Jan 15, 2021 4:50am
Quoting T4Trade
PLEASE if someone can explain why in TMS we take typical instead of close or Exponential moving average. is exponential is good or linear weighted for higher time frames like D and 4h tf?
The settings are what the TDI creator specified. They are not cast in stone.

Feel free to experiment with other settings and make a comparison using the original settings as the baseline. It would be nice if you then reported the analysis of your findings.
To free Gazans of Hamas, use whatever it takes.
  • #115,119
  • Jan 15, 2021 12:42pm Jan 15, 2021 12:42pm
Quoting emmanuel7788
{quote} {quote} EURUSD and GBPUSD - has anything change? {image} {image}
EURUSD Jan 15

- NY Close soon... first 10 trading days of the new cycle...

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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #115,120
  • Jan 15, 2021 12:47pm Jan 15, 2021 12:47pm
Quoting T4Trade
PLEASE if someone can explain why in TMS we take typical instead of close or Exponential moving average. is exponential is good or linear weighted for higher time frames like D and 4h tf?
Big E' old thread where it all started!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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